Question 2 Which of the following is not a user of management accounting information? O Employees. Chief Executive Officer. O Managers. O Suppliers.
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- External users of accounting information would include ________________. employees managers investors supervisorsWhich of the following statements is incorrect? The practice of management accounting is fairly flexible. The information gathered from management accounting is not required by law. Management accounting focuses mainly on the internal user. Reports produced using management accounting must follow GAAP.Which of the following groups would have access to managerial accounting information? A. bankers B. investors C. competitors of the business D. managers
- What is the purpose of management accounting?5. Which of the following is not an internal user?a. Corporate officersb. Staff employeesc. Stockholdersd. Department manager 6. Which term describes management accounting reports?a. GAAP reportsb. Special purposec. General-purposed. Regulatory reportsManagement accounting is used by A. Internal managers B. Shareholders C. External users D. Employees
- 16. Which is more useful to an operations manager, financial accounting or management accounting? Why? 17. Briefly describe how managers make use of management accounting information.The techniques and practices of management accounting are usually constrained by: Select one: O A. Accounting standards issued by the accountancy profession O B. Needs of internal users O C. Needs of shareholders O D. None of the aboveWhich of the following groups would have access to managerial accounting information?A. bankersB. investorsC. competitors of the businessD. managers
- Management accounting information can be disclosed to outsiders O a . False O b . True"Generally accepted accounting principles (GAAP) assist the development of management accounting systems." Do you agree? Explain. Question content area bottom Part 1 A. No. Although GAAP applies to internal accounting reports, managers rarely use it to develop management accounting systems. B. Yes. GAAP applies only to internal accounting reports. Therefore, managers must develop management accounting systems to comply with GAAP. C. No. GAAP applies to financial reporting for external users. Internal accounting reports are not restricted by GAAP. D. Yes. GAAP applies to internal accounting reports as well as financial reporting for external users. Managers must use GAAP in the development of all accounting systems.Question: b) Management accounting information is used by the internal users to make business decisions. reqiured: please answer this question by stating whether this statement is true or false.